Jacobs Levy Equity Management Inc. Acquires 14,368 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Jacobs Levy Equity Management Inc. boosted its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 73.0% in the third quarter, Holdings Channel reports. The firm owned 34,041 shares of the real estate investment trust’s stock after purchasing an additional 14,368 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in First Industrial Realty Trust were worth $1,906,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its stake in First Industrial Realty Trust by 46.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 200 shares during the period. Azzad Asset Management Inc. ADV lifted its stake in First Industrial Realty Trust by 4.8% during the second quarter. Azzad Asset Management Inc. ADV now owns 6,472 shares of the real estate investment trust’s stock worth $307,000 after purchasing an additional 295 shares during the period. Farther Finance Advisors LLC lifted its stake in First Industrial Realty Trust by 77.4% during the third quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 417 shares during the period. Fortem Financial Group LLC increased its holdings in shares of First Industrial Realty Trust by 4.6% during the second quarter. Fortem Financial Group LLC now owns 9,868 shares of the real estate investment trust’s stock worth $469,000 after buying an additional 438 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of First Industrial Realty Trust by 116.2% during the third quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 466 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Performance

Shares of First Industrial Realty Trust stock opened at $51.56 on Friday. The firm has a 50 day simple moving average of $53.72 and a 200 day simple moving average of $52.44. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.11. First Industrial Realty Trust, Inc. has a fifty-two week low of $45.10 and a fifty-two week high of $57.35. The firm has a market cap of $6.82 billion, a P/E ratio of 22.13 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. The firm had revenue of $167.60 million during the quarter, compared to analyst estimates of $164.01 million. During the same quarter in the previous year, the business earned $0.62 EPS. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. Sell-side analysts predict that First Industrial Realty Trust, Inc. will post 2.63 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Tuesday, December 31st. First Industrial Realty Trust’s dividend payout ratio is presently 63.52%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FR. Mizuho raised their price objective on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Wells Fargo & Company raised their price objective on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Barclays dropped their price objective on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. Wolfe Research raised shares of First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price objective for the company in a report on Tuesday, August 13th. Finally, Scotiabank raised their price objective on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $57.83.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains.